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Which of the following statements is correct? Multiple Choice 0 Proprietary funds must prepare a Statement of Revenues, Expen
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Answer #1

Answer is option A

A. Proprietary funds must prepare a statement of revenues, expenses and changes in fund net position, statement of net position and statement of cash flows.

Government wide statements include data from Governmental and proprietary funds.

Governmental funds must prepare a balance sheet, statement of revenues, expenses and changes in fund balance.

Fiduciary funds must prepare statement of fiduciary net position, statement of changes in fiduciary net position.

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